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Greenback edges down after rising the most in three weeks
The Straits Times
|July 09, 2025
The US dollar dipped on July 8 after jumping the most in three weeks as President Donald Trump left the door open for additional negotiations after imposing new tariff rates on partners including Japan and South Korea.
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NEW YORK -
Earlier on July 7, the dollar rallied after Mr. Trump announced the new tariffs, in a sign investors are confident the US economy can largely withstand the impact of trade disputes.
The Bloomberg Dollar Spot Index rose the most since June 17, and currencies across the globe slumped, with Japan's yen, South Korea's won, and Brazil's real among those sinking more than 1 percent.
The won and the yen later on July 8 gained slightly while the dollar dipped 0.2 percent.
"The fact that some of the more problematic policies from the US administration have been dialed back — and there are deals getting done — means that the economic pain for the US won't be as bad as originally feared," said Ms. Skylar Montgomery Koning, a currency strategist at Barclays.
This story is from the July 09, 2025 edition of The Straits Times.
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